The issuance of the Financial Services Authority (OJK) regulation on easy access to financing for micro, small and medium enterprisesUMKM) is long-awaited good news. Welcoming the new regulation, businesses and financing institutions are preparing themselves so that easy access to financing can really have an impact on improving their business.

As a follow-up to the August 2025 monthly board of commissioners meeting (RDKB), OJK announced the issuance of OJK Regulation (POJK) Number 19 of 2025 concerning Ease of Access to Financing for Micro, Small and Medium Enterprises on Monday (15/9/2025).

The regulation aims to encourage banks and non-bank financial institutions (LKNB) to provide access to UMKM lending more easily, quickly, cheaply, and inclusively while still prioritizing prudential principles. Through this regulation, OJK hopes that banks and NBFIs can be more innovative in offering financial products according to the characteristics and business needs of UMKM.

"Starting from micro and ultra-micro businesses that need quick and easy access, to small and medium enterprises that require more complex and diverse services," said OJK Banking Supervisor Chief Executive Dian Ediana Rae regarding the target of this new regulation in a written statement received by SUAR, Tuesday (16/9/2025).

According to OJK records, credit growth until July 2025 grew 7.03% year on year to IDR 8,043.2 trillion. In terms of debtor classification, corporate loans grew by 9.59%, while UMKM loans grew by 1.82%. Through this regulation, this growth is expected to increase with greater access to financing.

There are seven kinds of convenience that OJK encourages in this regulation. First, simplification of requirements and ease of UMKM eligibility assessment. Second, special financing schemes according to business characteristics, including the acceptance of collateral in the form of intellectual property. Third, the use of alternative credit ratings to accelerate business processes.

Fourth, setting reasonable financing costs for UMKM. Fifth, utilization of information technology to strengthen the digital ecosystem, financial literacy, and consumer protection of UMKM. Sixth, affirmation of the provisions for writing off bad debts in UMKM financing. Seventh, incentives for banks and NBFIs that actively provide easy access to financing.

"In line with the government's Asta Cita, OJK supports programs to expand access to finance, encourage digital-based financing innovation, and healthy governance so that UMKM are increasingly competitive and contribute significantly to equitable economic growth," said Dian.

Over credit

The financing sector has responded positively to the issuance of this new regulation. Vice President for Public Relations of Amartha Mikro Fintek Harumi Supit stated that as a peer-to-peer lending-based financing company, her party will follow up on the POJK by maximizing existing services, while maintaining more measurable prospective client profiling criteria.

Harumi explained, for 15 years of operation, Amartha has found the reality of each region that has different characteristics, so we will always adjust the analysis of prospective debtors to the culture, character, and behavior of the local community.

"The first factor we ensure is that the financing must be productive. Then, we will monitor the surrounding environment, what the business is like, the capacity, and the character of prospective clients according to local residents. That assessment is a qualitative factor that also affects financing approval ," Harumi explained to SUAR, Tuesday (16/9).

Most of the financing that Amartha disburses is seed capital financing assistance with a starting amount of Rp 5,000,000. However, the capital is not always initial, but also an addition to the small capital that has been previously owned. Harumi gave an example of a prospective client who started a lemonade business, but due to lack of funds, he had to sell his stove.

"When the client applies for financing to Amartha, the capital we provide can be counted as expansion capital because the business is already running, but it is also considered initial capital because the client has not applied for capital before. The position of the capital we provide is a combination of initial capital and expansion capital," he said.

To complement the credit facilities for ultra-micro entrepreneurs, Amartha now offers the convenience of micro-investment with a value starting from Rp 10,000. The goal is to build the habit of UMKM players to set aside existing income for education or family needs.

In addition, Amartha also presents digital payment services that facilitate transactions and equip UMKM players with digital literacy so that they are able to reach a wider market and can transact outside the surrounding community.

"Through the briefing, we hope to provide more than just financing, so that UMKM players can also improve their welfare in the long run," Harumi concluded.

On a separate occasion, BRI Corporate Secretary Dhanny said that his party is focused and consistent in the UMKM customer financing business. This year it is targeting UMKM loans amounting to 85% of total lending.

In addition to providing credit, the company consistently supports UMKM that are able to present sustainable solutions through various coaching.

"Through various empowerment programs, we want to create more UMKM entrepreneurs who are not only business-oriented, but also have a positive impact on society and the environment," said Dhanny.

Drive demand

An important aspect that should not be forgotten in providing easy financing for UMKM is to encourage real sector demand. Senior economist at the Institute for Development of Economics and Finance (Indef) Aviliani assesses that, so far, the consideration for banks to channel credit to UMKM is a clear market or a long-term business contract.

"The problem is that UMKM often do not have collateral. Even if collateral is not taken into account, at least they have an SPK (work order letter). Well, they often don't have SPKs either. As a result, UMKM have been selling by only considering supply, even though the demand side is also important," Aviliani said when contacted by SUAR, Tuesday (16/9).

Encouraging such real sector demand can be done in several ways. For example, UMKM in tourism areas will definitely apply for credit if they are not affected by government spending efficiency, or when they become partners of large companies in the value-added supply chain.

Aviliani reminds us that if the scale of the UMKM business is stagnant, they do not need a loan. They will only apply if there is additional demand or when they are invited by the government to become a provider of government needs through the Goods and Services Procurement Policy Agency (LKPP).

"Now, because our UMKM are not upgrading, the financing sector is worried that if their business does not develop while their credit continues to be added, the credit can go bad and it will be used for consumptive needs and cannot pay back," he emphasized.

Thus, not only pressuring banks to channel, encouraging demand for UMKM is also important to ensure that the injection of funds and the reduction of lending rates to banks can be optimized, especially since UMKM are currently growing quite rapidly on a micro and ultramicro scale.

"The government's job is to involve UMKM in government spending. If they don't get demand, it is impossible for banks to offer credit. The new OJK regulation should also understand the risk appetite that banks have in running their respective businesses," he said.